>>LAUREN VERNO: RIGHT NOW ASIAN MARKETS ARE REBOUNDING, BUT US STOCK FUTURES ARE STILL DOWN
AFTER MASSIVE LOSSES LAST WEEK
IN FACT, JANE KING JUST HOSE
DOWN BY ABOUT A 150 POINTS OF
COURSE IS LINKED TO CONCERNS
ABOUT
THE CORONAVIRUS THE STOCK
MARKET OR A TRILLION IN WEALTH
LAST
WEEK ALONE FROM MONDAY TO
FRIDAY, THE DOW FELL MORE THAN
12%. THE BIGGEST WEEKLY
PERCENTAGE LOSS SINCE
2008 THE RECESSION. THE NASDAQ
LOST 10.5% AND THE S AND P FELL
MORE THAN 11%.
SO HOW EXACTLY COULD THIS CARE
IMPACT, YOUR STOCKS, YOUR
SAVINGS OR FOR ONE K AND WHAT
SHOULD YOU BE DOING RIGHT NOW
IS ANYTHING FINANCIAL PLANNER
ADAM WOLF JOINS ME NOW HERE
THIS MORNING, THANKS ED FOR THE
OF THE STATE OF THINGS WE WERE
ALL SITTING AT OUR DESKS LAST
WEEK PER SIDE BOTH WERE LIKE OH
MY GOSH IT JUST FELL ANOTHER
500 POINTS. MY HUSBAND, COSBY
SAYS.
>> CSX TOP JUST LAST $2 YOU
KNOW IT’S IT’S EASY TO PANIC,
BUT YOU SHOULDN’T PANIC CORRECT
WHAT SHOULD WE BE DOING TO
PROTECT OUR INVESTMENTS, YOU
KNOW YOU GO INTO IT AND WE
HAVEN’T HAD A MAJOR MARKET
DECLINE OF THE THINK BACK TO
2018 IN DECEMBER AND MOST
PEOPLE.
>> WHO WERE IN THE STOCK MARKET
HAD A VERY LARGE LOSS OVER A
VERY SHORT AMOUNT TIME. THIS IS
THE SHORTEST AMOUNT
OF TIME. WE’VE HAD A 10%
CORRECTION SINCE
2008 AND ONE OF THE WORST
FEBRUARY’S WE’VE HAD SINCE THE
30 SO THINGS CAME VERY FAST, CUTE AND VERY FREQUENT PEOPLE LOST A FUN
SPECIALLY THE FOR ONE K S OR
IRAS THAT WERE HEAVILY IN THE
STOCK
MARKET BUT HILL’S BRING SOME
CALM THIS TO HAVE MOST FOLKS
DON’T HAVE A 100% STOCK
PORTFOLIOS SO MANY PEOPLE OWN
BONDS BONDS BRING DOWN
THE RISK AND THEY ALSO BRING
SOME YOU KNOW SOME SOME RISK
ADJUSTMENTS TO IT THAT BRING
SOME SAFETY SOME STABILITY TO
THE OVERALL PORTFOLIOS SO THEN
IS YOUR SUGGESTION BECAUSE
WE’VE ALREADY SEEN NOW THAT 2
PEOPLE HERE IN FLORIDA ARE
BEING TESTED FOR SEEING 2
PEOPLE DIED HERE IN THE
UNITED STATES.
>>LAUREN VERNO: THIS IS
BECOMING MORE OF A GLOBAL ISSUE
DIRECTLY IMPACTING THOSE OF US
WHO LIVE HERE IN THE
UNITED STATES. ARE YOU
SUGGESTING THEN THAT MAYBE WE
SHOULD ALL BE LOOKING AT OUR
PORTFOLIOS AND NOW DESPITE THE
LOSSES LAST WEEK. MAYBE WE
SHOULD MOVE SOME THINGS TO
BONDS IF YOU KNOW WE DON’T HAVE
THAT KIND OF DIVERSITY I THINK
MOVEMENTS RIGHT NOW MIGHT NOT A
LOT OF A LOT OF SENSE BUT
HERE’S THE HERE’S
THE DEAL.
>> A LOT OF THE SUPPLY
CHAINS OVERSEAS. YOU KNOW A LOT
OF THESE COUNTRIES ARE HAVING A
LARGER ISSUES THAT WE
ARE SO WHEN WE LOOK AT THAT WE
TALK ABOUT WHAT’S GOING TO
HAPPEN 3 MONTHS 6 MONTHS 12
MONTHS DOWN THE ROAD. THE
MARKET HAS PRICED IN A
LOT OF PANIC AND A LOT OF
LOSSES DUE TO THAT PANIC
BUT WE’RE COMING OFF OF A 11
YEAR HIGHS WILL MARCH
IS THE 11 YEAR ANNIVERSARY OF
THE BOTTOM OF THE 2008 CRASH.
IN THE CRISIS SO WE ARE ALREADY
AT PRETTY MUCH LARGE HIGHS.
IF YOU’RE WORKING WITH A
FINANCIAL ADVISOR OR YOU’RE FOR
ONE K COMPANY.
MAKING SURE THAT YOU HAVE
PROTECTIONS IN PLACE WHETHER
IT’S ON ITS CASH, SPECIFIC
TYPES OF ANNUITIES TO PROTECT
WORST-CASE SCENARIOS GOING INTO
THIS. NOW IF YOU ALREADY ARE
INTO IT, SITTING WAITING IS
WHAT MOST PEOPLE NEED TO DO,
BUT YOU TAKE A LOOK AT WHAT YOU
INDIVIDUALLY OWNED TO SEE IF IT
MAKES SENSE
TO KEEP GOING FORWARD BASED ON
THE NEW INFORMATION AVAILABLE
SHOULD PEOPLE BE BUYING RIGHT
NOW. SO.
HERE’S THE I’M NOT A SPECIFIC
MARKET TIME OR WHEN IT COMES TO
BUYING AND SELLING ON A
DAILY BASIS. WE LOOK AT LONG
TERM BUT BEING LONG-TERM
DOESN’T MEAN YOU KNOW NAIVE TO
SAY THAT THERE WILL BE
SHORT-TERM THINGS
THAT OCCUR. SO BUYING SOME
PEOPLE HAVEN’T HEARD BACK IN
WILL ENTER
BACK IN. GAVE ME SOME HOPE ON
FRIDAY WHEN THE MARKET CAME
BACK SO FAST THE LAST HOUR
OF TRADING. AND IT CAME BACK
OVER 800 POINTS IN LESS THAN AN
HOUR SO GOING INTO THE WEEKEND
WHO KNOWS WHERE WE’RE GOING TO
BE RIGHT NOW ON MONDAY GOING
FORWARD, BUT IT’S A LONG-TERM
GAME. THE PRICE OF ADMISSION OF
THE STOCK MARKET IS A POTENTIAL
FOR LOSS. IT’S SO IF YOU
CANNOT STOMACH, SEEING YOUR
STUFF GO DOWN BY
1002 1000 OR EVEN A 10,100
$1000 THAT YOU NEED TO SIT ON
THE SIDELINES AND READJUSTING
GETS CORRECTED
THAT WAY.
>>LAUREN VERNO: AS WE ENTER
THEM THIS WEEKEND SHOULD WE
START SEEING THAT ROLLER
COASTER RIDE YOUR ADVICE THEN
TO OUR VIEWERS.
>> SO WE WANT TO EAT WAIT
IT OUT. IN MY OPINION BUT NOT
NAIVE TO SAY THERE MAY BE SOME
THINGS IN YOUR PORTFOLIO THAT
HAVE MORE RISK THAN OTHERS IN
TONE, THOSE DOWN AND IF IT GOES
DOWN ANOTHER 5 TO 10%. MAYBE
ANOTHER
BUYING OPPORTUNITY. SO BUT
WE’RE LOOKING AT LONG-TERM WE
WANT EVERYBODY TO BE SAFE AND
HEALTHY AND YOU KNOW FROM THAT
STANDPOINT YOU TALK TO THE
DOCTORS THE MEDICAL FOLKS WE’RE
IN A BETTER SITUATION KNOWING
THE INFORMATION WE KNOW NOW BUT
FROM A MARKET PERSPECTIVE
MARKETS TEND TO OVERREACT WE’VE
GONE THROUGH EVENTS LIKE THIS
BEFORE WE TYPICALLY COME BACK
AND SO WE NEED TO BE PREPARED
FOR THAT AND TAKE A DEEP BREATH
DON’T PANIC US AND LET’S HOPE